13th Floor Capital is an affiliate of 13th Floor Investments, operating as a hybrid family office and independent sponsor with a core focus on multi-unit retail investments. Its portfolio companies combine to form one of the largest Focus Brands® franchisees in North America with over 60 Cinnabon®, Jamba®, and Auntie Anne’s® locations. In addition to restaurants and food-service, the firm also seeks opportunities to acquire or take controlling interests in cash flow generative companies across a multitude of industry categories and geographic markets, with strategic or opportunistic investments at all levels of the capital stack. Recently, the firm made a strategic investment in 37th Street Bakery (formerly known as Gold Standard Baking), one of the largest laminated dough bakeries in North America.
About Us
Our Brands
Our Team
Our core team is a dynamic and unique blend of financial, legal, accounting, and operations experts, with CEO-level experience, big-private equity pedigree, a "roll your sleeves up" mentality, and an entrepreneurial spirit.
David Karsenti
Managing Principal
Joshua Young
Principal & General Counsel
Nicole Clement
Controller
Daniel Samper
Assistant Controller
Investment Criteria
We focus on cash-flow generative companies and assets with a long-term investment horizon, an attractive entry point, and an opportunity to add value through expertise or relationships.
Multi-Unit Restaurant / Food Service
We particularly like the restaurant industry, and specifically the specialty snack retailer segment. We will acquire single or multi-unit portfolios within the Focus Brands system (Cinnabon, Auntie Anne’s or Jamba) nationwide. We are also seeking investment opportunities within national franchise quick service or fast casual restaurants systems, as well as regional restaurant groups with deep market penetration and brand recognition. We will acquire portfolios or entire companies with 5 to 100+ units and generally target a minimum EBITDA of $2M. Further, we are interested in food-service businesses, including commercial production and suppliers.
Multi-Unit Retail
In addition to restaurants, we are interested in a variety of multi-unit retail business models, products, and services. We will consider companies or franchises that sell physical products (e.g., consumables, apparel, supplies, furniture), provide a service (e.g., nail salon, hair care, oil change), or provide an experience (e.g., gym, trampoline, escape room). Our focus is profitability and ability to scale. We generally target portfolios or companies with at least 10+ units and sales in excess of $10 Million.
Services Companies
We also seek to acquire servicing companies with a minimum of $2M of EBITDA. We have a strong affinity towards companies that are direct or indirect participants in the real estate industry, including consumer products retailers (flooring, windows, doors, fence, etc.) and services companies (plumbing, HVAC, plumbing, landscaping, restoration and remediation, etc.). We also interested in companies that service the hospitality industry, including technology companies, logistics and supply chain companies, and industrial or equipment suppliers, as well as any business with a recurring revenue structure.
